Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Note my post from the 2nd
"This could be the bottom. Price is sitting right on the support line, 61.8% fib @ 31.3p (if the fib is taken from the 9th April close rather than the top) however, sometimes it is important to see if the trades are obeying the close rather than the spike, in this case it may be valid as the close was respected on the 18th April where the price bounced from the low of 31.275p"
Once again on the 31.3p, 61.8% fib for the 3rd time - will it bounce!
Based on the scarcity of posts on the last RNS (Independent Expert Report by LKA on Alkaid Horizon), Should I assume most were not that impressed - Do you think the next report on the Ahpun Field by Cawley Gillespie & Associates is going to be received better?
The Akaid horizon is the smallest and deepest on the ahpun acreage but still came in commercially, the next IER is for the topset and the new eastern zones which are expected to be huge.
Mif51, I don't think the new Eastern leases are included in the pending IER.
Yes you are correct, apologies, CGA are just doing the western top sets on Ahpun.
Been comparing this with PTAL. who produce 20kbopd and have $150 miilion in the bank and growing with another well about to produce on the biggest oil field in peru market cap £430 mill. against this heap of dung with 18api oil in the ground no revenue and no money at a market cap of £300 mill.... its laughable
Are you sure? according to WH Ireland
" The company stated it is expecting a report from Cawley Gillespie on the Ahpun Topsets (and the newly awarded Eastern Extension) with better reservoir properties in the coming weeks. "
The eastern extension would require an appraisal (Megrez-1) before being included?
The eastern extension is all part of the same oilfield that has already had a drill and test done last year. It’s just on the other side of a large river, hence they intend to get at it with long horizontal wells.
08:39
"18api oil" ?
DarienTaylor, what is you Soverign risk and credit risk policy when valuing an asset in Peru vs an asset in the US?
Good news for the SP today, price retreated to the 50 day simple moving average which acted as the reversal bouncing as I hoped off both the SMA and the 21 day low price channel. A move back above the fib removed the 3 dark crow bearing candlestick, to end in a short tailed hammer. Could be quite bullish for the price and indicate that the downward pressure has run out of steam, a bullish engulfing, ideally closing above 33.1p (50% fib) would confirm a trend reversal, might be an interesting trade tomorrow.
DarienTaylor could it be that the size of the field in Peru is 38M. Where as PANR have a field of over 1Bn. Slight difference!
April 10th RNS confirms CGA report will be in Western Ahpun. Eastern is part of same field but are different reservoirs that carry appraisal risk. However Pantheon's seismic has been proven to be successful in spotting oil accumulations so far. Permeability expected to ~100fold increase from Western Topsets (~10,000 fold better than Alkaid).
https://www.lse.co.uk/rns/PANR/webinar-and-update-rhf8gw2epra0cdn.html
17:01
According to their 2023 business presentation YE2023 2P reserves 117mmbbls, they are in production and have a share buy back plan and dividend in place, so further ahead in the cycle and with ACTUAL production.
So not really comparing eggs with eggs.
But their share price is probably already reflective of what they have today so you have to decide which company meets what you are looking for with your investment.
If you are already invested here you have probably already decided that the potential here is worth the risks.
https://petrotalcorp.com/investors/
Interesting that PTAL have 2024 Company presentation tomorrow so DT may well just be getting the name across.
None of which is out of the ground and may never happpen